What’s next for HYPE? This buying spree from larg

What’s next for HYPE?

This buying spree from large entities has had a positive impact on Hyperliquid’s price movement. As of this writing, HYPE was trading at $42.32, marking a 6.01% increase over the past 24 hours. 

These gains on daily charts extended a month-long uptrend, where HYPE surged by 70% in 30 days and 25% in seven days. Such significant gains across the charts indicate a strong upward momentum. 

However, HYPE’s upward momentum was slowly weakening. The Stoch RSI made a bearish crossover over the past day, as the token entered the overbought zone. 

A bearish crossover amid overbought conditions signals looming volatility that could see HYPE pull back. The Directional Movement Index [DMI] further validated this weakening momentum. 

At press time, the +DI was 27 below -DI, which held around 40, suggesting that downward momentum built while upward momentum weakened. When the DMI is set like this, it suggests that prices could retrace. 

In conclusion, if buying sprees from whales and institutions hold, they will maintain Hyperliquid’s uptrend and attempt a move to $44.

Conversely, if retail activity continues to decline while momentum is weakening, HYPE will retrace to $38.5 and find strength for another leg up.